Consortium Wins Fuel Terminal Contract in Peru

A consortium formed by units of local builder Grana y Montero and Germany's Oiltanking won a 20-year contract for managing five fuel terminals in Peru, Grana y Montero said on Wednesday.

The consortium will invest about $225 million in the project, with $190 million returned in the form of discounted payments to state-run energy company Petroperu, Grana y Montero said via email.

Each company controls a 50 percent stake in the local consortium, said Grana y Montero, Peru's biggest construction company.

Petroperu, which owns the terminals and awarded the management contract, has said it is planning a $3.5 billion expansion of its main refinery, Talara, to boost output by 50 percent to 96,000 barrels per day.
(Reporting By Marco Aquino; Editing by Dan Grebler)